Insider Selling: Lyft, Inc. (NASDAQ:LYFT) President Sells 16,000 Shares of Stock (2024)

Lyft, Inc. (NASDAQ:LYFT - Get Free Report) President Kristin Sverchek sold 16,000 shares of Lyft stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.00, for a total value of $320,000.00. Following the completion of the sale, the president now owns 80,978 shares in the company, valued at $1,619,560. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

• Lyft Resets the Stage For Its Path to Profitability

Kristin Sverchek also recently made the following trade(s):

• On Monday, March 4th, Kristin Sverchek sold 3,500 shares of Lyft stock. The stock was sold at an average price of $17.51, for a total value of $61,285.00.
• On Friday, March 1st, Kristin Sverchek sold 6,500 shares of Lyft stock. The stock was sold at an average price of $16.30, for a total value of $105,950.00.
• On Wednesday, February 14th, Kristin Sverchek sold 5,670 shares of Lyft stock. The shares were sold at an average price of $15.02, for a total value of $85,163.40.
• On Tuesday, January 2nd, Kristin Sverchek sold 5,669 shares of Lyft stock. The shares were sold at an average price of $14.16, for a total value of $80,273.04.

Lyft Trading Down 3.2 %

Shares of Lyft stock opened at $19.52 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.87 and a quick ratio of 0.87. Lyft, Inc. has a 1 year low of $7.85 and a 1 year high of $20.82. The company has a market capitalization of $7.80 billion, a P/E ratio of -21.93 and a beta of 1.95. The business has a 50 day moving average price of $15.38 and a 200 day moving average price of $12.99.

• Lyft your expectations: A reality check for a promising future

Lyft (NASDAQ:LYFT - Get Free Report) last released its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.14. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. Sell-side analysts anticipate that Lyft, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Trading of Lyft

Several hedge funds and other institutional investors have recently bought and sold shares of LYFT. US Bancorp DE grew its stake in Lyft by 35.0% in the 1st quarter. US Bancorp DE now owns 10,672 shares of the ride-sharing company's stock worth $410,000 after acquiring an additional 2,768 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Lyft by 26.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 29,753 shares of the ride-sharing company's stock valued at $1,142,000 after buying an additional 6,200 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Lyft during the 1st quarter valued at $731,000. Panagora Asset Management Inc. purchased a new stake in shares of Lyft during the 1st quarter valued at $206,000. Finally, APG Asset Management N.V. grew its stake in shares of Lyft by 8.9% during the 1st quarter. APG Asset Management N.V. now owns 12,200 shares of the ride-sharing company's stock valued at $421,000 after buying an additional 1,000 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

• Uber quadruples EPS estimates, but is growth decelerating?

A number of research analysts recently commented on LYFT shares. Barclays upped their price objective on Lyft from $14.00 to $17.00 and gave the company an "equal weight" rating in a report on Thursday, February 15th. Nomura lowered Lyft from a "neutral" rating to a "reduce" rating and boosted their target price for the company from $11.70 to $13.00 in a research report on Friday, December 29th. Argus upgraded Lyft from a "hold" rating to a "buy" rating and set a $20.00 price objective on the stock in a research note on Tuesday, March 5th. Piper Sandler increased their price objective on Lyft from $17.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, March 15th. Finally, The Goldman Sachs Group cut Lyft from a "buy" rating to a "neutral" rating and raised their price target for the company from $12.00 to $15.00 in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $14.40.

Get Our Latest Stock Report on LYFT

Lyft Company Profile

(Get Free Report)

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

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